Stocks open higher after latest US growth numbers

Written by Muleskinner Staff

NEW YORK (AP) — U.S. stocks are opening slightly higher after the government said the economy grew at a slightly better pace in the spring than first thought.
The Dow Jones industrial average is up 12 points to 13,115 shortly after the opening bell. The Standard & Poor’s 500 index is up two points to 1,411. The Nasdaq is up five points to 3,082.
The U.S. economy expanded at a 1.7 percent annual rate from April through June thanks to slightly stronger consumer spending and exports.
That’s better than the initial estimate of 1.5 percent. But it’s not enough to put a dent in the unemployment rate.
A handful of companies reported earnings Wednesday. H.J. Heinz posted a 14 percent jump in quarterly net income, driven by higher prices and emerging-market sales.